Lecture 8 (Chapter 1). Opening an Account, Step by Step: EasyEquities & Sharenet Securities

Reading about brokers is one thing. Actually opening an account removes all the mystery. Here's exactly what the process looks like for our two independent options.

EasyEquities

1. Register online or via the app. Go to easyequities.co.za or download the app, choose your country of citizenship and residence, and select an individual account.
2. Fill in your personal details. Name, date of birth, address, and some basic questions about your employment and financial background - standard information any regulated broker is legally required to collect.
3. Automatic identity verification (FICA). EasyEquities is legally required (under South Africa's Financial Intelligence Centre Act) to confirm who you are before you can invest. For most South African individuals over 18 with a valid SA ID, this check runs automatically in the background. You don't need to upload anything. It typically completes within a few hours, sometimes up to 24 hours.
4. Link your bank account. This is where money moves in and out of your investment account.
5. Deposit funds. Since there's no minimum, you can start with whatever amount you're comfortable with.
6. Start investing. Search for a share or ETF and place your first order.

If EasyEquities does need extra documentation (this mainly applies to more complex account types - minors, companies, foreign nationals), they'll email you exactly what's required. No guesswork.

Sharenet Securities

1. Complete the online application form on Sharenet's site, selecting your account type and the amount you intend to invest.
2. Submit your FICA documentation - standard identity and address verification documents, scanned or photographed and sent along with your application.
3. Sharenet reviews your application and documents. Because a real person checks this (rather than a fully automated system like EasyEquities), it typically takes a little longer to clear.
4. Fund your account via electronic transfer. Note that Sharenet cannot accept cash deposits, and payment must come from an account in your own name.
5. Start trading once your account is active and funded.

The practical difference between the two, in one sentence: EasyEquities is built for near-instant, self-service signup with no minimum deposit; Sharenet Securities involves a slightly more manual, document-based process - a fair trade-off if you want a more traditional stockbroker relationship, research tools, or a broader product range down the line.